Effects Of A Default On Expats

Sounds like to me Griesa is really tired... It wouldn't surprise me he didn't even know the name Euroclear until a few days ago (hence the whole mess I've kept speaking about since 1 month with the Euro bonds & Japanese ones), not because he's incompetent, but because of his age (I think I'll be in much worst shape at his age though)
 
Who died and made you the arbiter of the truth?
What?!?

Anything about the fight over payment or not, that comes from an Argentine source is as reliable as what comes from the holdouts.

They are fighting a war in the media and neither can be trusted.
 
What?!?

Anything about the fight over payment or not, that comes from an Argentine source is as reliable as what comes from the holdouts.

They are fighting a war in the media and neither can be trusted.

Here goes cupcake

Griesa knew nothing about Eurostream until two days ago. So which media are not to be trusted? Or did the campora edited the transcripts? You live in a Fantasy world

You can keep pouring your verbal diarrhea (rather a constipation in your case), but the truth is the truth, period.

1 THE COURT: Do you know where that money is now on
2 deposit?
3 MR. FRIEDMAN: In part, yes, your Honor. Part of that
4 money is now on deposit in the account of Euroclear Bank in New
5 York, at Euroclear Bank's account in New York at Citibank N.A.
6 THE COURT: Is that being held?
7 MR. FRIEDMAN: Euroclear has held that money and
8 Euroclear has asked for permission to pass that money on to the
9 exchange bondholders in the U.S. and Europe who hold the
10 Argentine law U.S. denominated exchange bonds.
11 THE COURT: I should have written it down. That
12 entity is called what?
13 MR. FRIEDMAN: Euroclear Bank, your Honor.
14 THE COURT: Euroclear. Aside from Euroclear, are
15 there any of the funds in the category we are talking about?
16 MR. FRIEDMAN: Not that I know of, your Honor.

Page 31 in http://fr.scribd.com/doc/234885491/Transcript-Griesa-Julio-22-2014
 
What?!?

Anything about the fight over payment or not, that comes from an Argentine source is as reliable as what comes from the holdouts.

They are fighting a war in the media and neither can be trusted.

Another one

Bisou

Griesa hardly knows the facts, keeps asking others to repeat (if you read the transcript fully)

8 MR. FRIEDMAN: Your Honor, first let me say, if I may,
9 it is not a minute situation. The U.S. dollar-denominated
10 exchange bonds we are talking about under Argentine law which
11 are owned by bondholders all over the world, those account for
12 over 20 percent of the exchange bonds that were issued.
13 THE COURT: Say that again.
14 MR. FRIEDMAN: The universe of exchange bonds consists
15 of U.S. dollar-denominated bonds under Argentine law, yen bonds
16 under Japanese law, Eurobonds under UK law, and U.S. dollar
17 bonds under New York law. If we look at the bonds we are now
18 talking about, the Argentine law U.S. dollar-denominated
19 exchange bonds, those are almost 25 percent of the universe of
20 exchange bonds covered by the amended February 23 orders. They
21 are covered by the orders. They are external indebtedness. It
22 is not a little exception.
23 THE COURT: I didn't realize the percentages were the
24 way you talk about. There is a lot to do today. We will be
25 back to you, but I want to hear from Ms. Wagner. Thank you


Page 10 in http://fr.scribd.com/doc/234885491/Transcript-Griesa-Julio-22-2014
 
What?!?

Anything about the fight over payment or not, that comes from an Argentine source is as reliable as what comes from the holdouts.

They are fighting a war in the media and neither can be trusted.

And another one

That's for pages 15 to 22 (too long to copy/paste but clearly, Griesa recognizes a few times he did not consider some aspects regarding the fact there are different types of bonds).

It ends up on page 22 with Griesa saying:

2 THE COURT: Let's slow down. This is probably
3 something that I didn't give attention to at the time. Now it
4 has to be given attention. Let's start one step at a time and
5 go through your reasoning. These bonds that we are talking
6 about are exchange bonds, right?
7 MS. WAGNER: Yes.
8 THE COURT: They were part of the 2005 or the 2010 or
9 both, right?
10 MS. WAGNER: Yes.
11 THE COURT: Sitting here right now and recognizing
12 that I may have very well not covered things that should have
13 been covered, but sitting here right now it strikes me that,
14 being exchange bonds, they should be treated as exchange bonds
15 and that they should be included with the other exchange bonds
16 in the February 23 order. That is the way it strikes me now.
17 I'm not trying to review everything that I've gone over. Why
18 should that not be the case?
19 MS. WAGNER: Your Honor, we would argue respectfully
20 that it should not be the case, for two reasons. One, because
21 the bonds are issued in Argentina pursuant to local laws, not
22 pursuant to an indenture. There is no subjection to U.S.
23 jurisdiction. They are payable wholly in Argentina.
24 For that reason, various doctrines, such as Act of
25 State and Sovereign Compulsion, would suggest that your Honor
1 should not be reaching internal Argentine processes with an
2 order of this Court. That would be the main argument for why
3 these bonds, even though they are exchange bonds, should not be
4 included in your Honor's injunction order.

http://fr.scribd.com/doc/234885491/Transcript-Griesa-Julio-22-2014
 
What?!?

Anything about the fight over payment or not, that comes from an Argentine source is as reliable as what comes from the holdouts.

They are fighting a war in the media and neither can be trusted.

If that's not enough (a bit later, page 25)

3 THE COURT: The issues raised today I haven't really
4 dealt with in any opinion, so I have to reserve decision on the
5 motion before me. Thank you all very much. Let's go on to the
6 next.
7 MS. WAGNER: Thank you, your Honor.
8 MR. FRIEDMAN: Your Honor, if I might suggest, it
9 probably makes sense next to consider the motions for
10 clarification by Euroclear and Clearstream, since those motions
11 are based on your Honor's order.
12 THE COURT: I will reserve decision. What comes next?
13 MR. FRIEDMAN: I believe what comes next, and your
14 Honor may feel the same way, we have a letter motion for
15 clarification that was made by JPMorgan relating to the yen-
16 denominated exchange amount.
17 THE COURT: I will reserve decision.


http://fr.scribd.com/doc/234885491/Transcript-Griesa-Julio-22-2014
 
What?!?

Anything about the fight over payment or not, that comes from an Argentine source is as reliable as what comes from the holdouts.

They are fighting a war in the media and neither can be trusted.

One more for the road

Griesa indeed said that Argentina "actually paid"... That's on page 41

2 THE COURT: Look, of all the issues we have, and there
3 are a lot of issues, it seems to me this surely should be able
4 to be agreed on. The republic attempted to pay interest. That
5 attempt was improper. We talked about that many, many times.
6 But money actually had been paid. The bank was very
7 responsible and certainly paid attention to my existing order
8 and complied with it as well as it could. It didn't refuse the
9 receipt of the money, but it did not carry it on. Very
10 responsible.
11 What should be done now with that money? Can't the
12 parties agree? It's money. Whether it should go back to the
13 republic or not, can't you agree on that?
 
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